BNP Paribas Financial Markets Sells 18,776 Shares of Tidewater Inc. (NYSE:TDW)

BNP Paribas Financial Markets lowered its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 72.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,963 shares of the oil and gas company's stock after selling 18,776 shares during the period. BNP Paribas Financial Markets' holdings in Tidewater were worth $381,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. AlphaQuest LLC raised its stake in Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 511 shares in the last quarter. Headlands Technologies LLC purchased a new position in Tidewater in the fourth quarter worth $53,000. EverSource Wealth Advisors LLC raised its position in Tidewater by 45.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock valued at $58,000 after purchasing an additional 333 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Tidewater by 2,018.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company's stock worth $70,000 after purchasing an additional 1,211 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Tidewater by 336.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company's stock worth $87,000 after purchasing an additional 1,224 shares in the last quarter. Institutional investors own 95.13% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James decreased their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $69.33.

Insider Activity at Tidewater

In related news, Director Robert Robotti bought 1,770 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $40.95 per share, with a total value of $72,481.50. Following the completion of the purchase, the director now owns 2,183,670 shares of the company's stock, valued at approximately $89,421,286.50. The trade was a 0.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.33% of the stock is currently owned by corporate insiders.

Tidewater Trading Down 0.6%

Shares of NYSE:TDW traded down $0.24 on Wednesday, reaching $41.09. 642,382 shares of the company traded hands, compared to its average volume of 1,091,292. The stock has a market capitalization of $2.03 billion, a P/E ratio of 12.09 and a beta of 1.00. The business's 50-day simple moving average is $38.51 and its 200 day simple moving average is $46.55. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $108.44.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.24. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 earnings per share. As a group, equities analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.